Lalita Clozel

Square became the third fintech firm in recent months to seek out a bank charter. Others are likely to follow.

The legislation introduced by Reps. Jared Polis, D-Colo., and David Schweikert, R-Ariz., would allow cryptocurrency users to make transactions of up to $600 without paying taxes.

The changes to the National Multistate Licensing System will include a more customized user experience for companies and functionality for states to share examination data.

The company's application, which is expected to be announced as early as Thursday, comes after the online lender SoFi applied in June for an industrial loan charter. The bank is expected to be led by a former Green Dot executive.

The Consumer Financial Protection Bureau has fined a California-based lead aggregator and its owner hundreds of thousands of dollars for allegedly directing consumers toward illegal loans that would be void in their states.

The debate over the separation of banking and commerce has come roaring back, but instead of Walmart in a spotlight role, many banks have centered on a player they see as the new villain: fintech.

The Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. have signed off on an abbreviation of the settlement cycle for securities to two days from three days.

As Republicans policymakers pursue efforts to revamp the Consumer Financial Protection Bureau and replace its leadership, state agencies are already preparing to fill any vacuum that might ensue if the CFPB steps back.

Acting Comptroller of the Currency Keith Noreika is questioning the sincerity of recent steps by the FDIC to encourage de novo applications.

Acting Comptroller of the Currency Keith Noreika is using his short time in office to open a debate about the separation of banking and commerce, which he says is anti-competitive, stifles diversification and may limit regulators' options in times of crisis.

The Office of the Comptroller of the Currency is seeking to scrap a challenge to its fintech charter by New York’s bank regulator.

The banking industry had mostly good news in the FDIC's Quarterly Banking Profile, with higher profits helped by interest income. But there were worrying signs too, including a big jump in credit card chargeoffs.

Higher net interest income and modest growth in expenses helped boost bank earnings by 10.7%, the FDIC said in its Quarterly Banking Profile.

The Trump administration says it has put a stop to Operation Choke Point, a controversial initiative aimed at discouraging financial institutions from servicing high-risk businesses.

A handful of state regulators are discussing ways to create a single regulatory structure for fintech companies that are seeking regional or national business.

The National Credit Union Administration has laid out a detailed and comprehensive reform plan, with proposals ranging from minor procedural changes to more ambitious goals, like a firmer assertion of federal preemption over state laws.

In the midst of a public feud between federal regulators on the right process for chartering new banks, Federal Financial Analytics argues that regulators should instead focus on loosening capital standards for new industry entrants.

The Federal Deposit Insurance Corp. will release its industry earnings report for the second quarter on Aug. 22.

The Dodd-Frank Act’s Volcker Rule was meant to protect the financial system, but it is also stopping community banks from investing in funds focusing on fintech.

While acting Comptroller of the Currency Keith Noreika's criticism that the FDIC is hampering the creation of new banks may have had merit in the past, the agency has fixed many problems.